HBL Engineering- Possible DOUBLE BottomPossible Double Bottom formed by HBL Engineering, major support held 515-520 on the weekly chart. Breakout above its 726 resistance with a clear close above should target 1000 gradually( the break out target)
HBLENGINE trade ideas
BULLISH REVERSAL SETUP SEEN IN HBL ENGINEERING LTD📊 StockTrade Setup Details
Name: NSE:HBLENGINE HBL Engineering Ltd.
Exchange: NSE (National Stock Exchange, India)
📈 Current Market Price (CMP): ₹527.85
💡 Key Levels:
🚀 Entry Point: ₹494.40
Buy when the price reaches this level (near support).
❌ Stop-Loss (SL): ₹472.25
Exit if the price drops below this level to minimize losses.
🏁 Take-Profit (TP) Levels:
TP1: ₹518.65 🏆 (First conservative target).
TP2: ₹594.40 🥈 (Moderate profit zone).
TP3: ₹702.50 🥇 (Aggressive target for maximum gain).
⚖️ Risk-to-Reward Ratio (RRR):
Risk:
Entry to SL: ₹494.40 - ₹472.25 = ₹22.15
Reward:
TP1: ₹24.25 ➡️ RRR ~ 1:1.1
TP2: ₹100.00 ➡️ RRR ~ 1:4.5
TP3: ₹208.10 ➡️ RRR ~ 1:9.4
📈 Technical Observations
📉 Trend Analysis:
A sharp bearish move recently (large red candle).
Anticipating a bullish reversal from the support zone.
🛠️ Support Levels:
Zone: ₹472 – ₹494
SL is placed slightly below this zone for risk management.
📏 Resistance Levels:
TP1: ₹518.65
TP2: ₹594.40
TP3: ₹702.50
Extended Target: ₹740.35
📊 Volume: Moderate to high volume shows active trading interest.
🔴Disclaimer:
I am not a SEBI-registered advisor. Investments and securities are subject to market risk. Please Read carefully this idea.This analysis and the suggested levels are for educational purposes only Trade responsibly and at your own risk.
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@Alpha_strike_trader
HBL is in accumulation zoneHblpower is in the accumulation zone,
breakout above 708
breakdown below 620
accumulation between 620 to 708
lets follow what big players are doing.
HBL- Trading levelsHBL- range bound, like many stocks. Should be testing the lower end at 560-570 again in a weak market, ideal entry point for a good 15% or more.
